Community Parks Revitalization Act This bill provides assistance for local park and recreation facilities, programs, and infrastructure. Specifically, the bill requires the Department of Housing and Urban Development (HUD) to carry out a community revitalization program to award grants to local governments for various park and recreation purposes. The grants must be used for (1) rehabilitation and construction of recreational areas and facilities, (2) recreation programming and innovation in delivering such programming, and (3) development of local parks and recreation recovery action programs. To be eligible to receive a rehabilitation and construction grant or a recreation programming grant, a local government must submit a local park and recreation recovery action program. Additionally, HUD may make secured loans for parks and infrastructure projects to entities such as governmental entities, special purpose districts, and corporations. Among other purposes, these loans may be used to develop parks and recreational facilities and to plan, design, and construct trails for pedestrians and bicyclists.